The Joint War Committee (JWC), which counts syndicate members from Lloyd's in its ranks, as well as representatives from the London insurance market, has listed the waters around Bahrain, Djibouti, Kuwait, Oman and Qatar as high-risk areas, according to a JWC Circular.
Additionally, JWC has amended the cover to include other areas of the Red Sea, swathes of the Pakistan coast and even extensions down to Somalia’s borders.
Guidance from the JWC is watched closely and influences considerations over insurance premiums, reported the news platform Zawya.
Separately, Reuters, quoting industry sources, noted that the expansion of high-risk areas to include ?waterways that connect ?with other ?parts of the Gulf was “viewed as a way to close gaps where war-risk insurance ?had not previously applied, leaving ships exposed ?without adequate ?cover”.